Economics, Policy and Governance

  • The Economics, Policy and Governance (EPG)  department supports the Bank in increasing its impact through enhancing its operations and policy engagements. EPG does this by supporting and assessing the quality of the Bank’s interventions through economic analysis focused on its projects, by leading and supporting reform engagements in countries of operation (through country diagnostics and policy objectives), by providing political and political economy analysis in support of operations and high-level dialogues with the leadership of CoO. It also supports better governance and business environment through a number of targeted products (including Investment Councils and Business Ombudsman institutions) and served as the Bank’s knowledge hub on economics, policy and governance.

The economics arm of Economics, Policy and Governance (EPG)  and Office of the Chief Economist (OCE) also contribute to the operational, policy and strategy work of the Bank. Where OCE focuses on economic research and provides intellectual leadership on the economic aspects of transition in the region, the economists in EPG work with Banking and other departments in designing, appraising and monitoring investment projects that advance the transition to a market economy. They also initiates and participates in policy initiatives, contributing to the development of country and sector strategies. Both departments support the Bank’s operations by monitoring macroeconomic developments and risks .

The team also works closely with the Office of the Chief Economist providing mutual support and closely collaborating on key products for the Bank, like the Working Paper Series, the EBRD Transition Report and Regional Economic Prospects (REP). EPG is also responsible for the Country Diagnostic studies on economic developments in the region.

Trade exposure of the EBRD countries in the EU: Potential value chain disruptions in a no-deal Brexit outcome

Risk assessment and mitigation in Central Asia: implications for
foreign direct investment and the Belt and Road Initiative

Sector Economics and Policy

Elisabetta Falcetti (Director, Sector Economics & Policy – EPG) 
Bojan Markovic (Deputy Director)
Alex Chirmiciu (Associate Director, Lead Infrastructure Economist) 
Inna Yabbarova (Associate Director, Lead Energy Economist)
Rika Ishii (Associate Director, Lead Sector Economist)
Barbara Rambousek (Director, Gender & Economic Inclusion)
Isabel Blanco (Associate Director, Lead Sector Economist, Green Economy Transition)

Governance and Political Affairs

Milica Delevic (Director, Governance and Political Affairs – EPG)
Oleg Levitin (Deputy Director, Governance and Political Affairs - EPG)
Tarek Osman (Associate Director, Political Affairs)
Oleksandr Pavlyuk (Associate Director, Political Affairs)
Jonathan Aves (Associate Director, Political Affairs)
Olyana Gordiyenko (Associate Director (Kiev), Governance)

Country Economics and Policy

Artur Radziwill (Director, Country Economics and Policy – EPG)
Peter Sanfey (Deputy Director, Country Economics and Policy)
Bassem Kamar (Associate Director, Regional Lead Economist)
Hans Holzhacker (Associate Director, Regional Lead Economist)
Mateusz Szczurek (Associate Director, Regional Lead Economist)
Peter Tabak (Associate Director, Regional Lead Economist)
Roger Kelly (Associate Director, Regional Lead Economist